The acquisition is reported to be in the "hundreds of millions," according to Swisher's sources. TechCrunch reports that Yahoo will pay at least $300 million for Flurry.

"By joining Yahoo, Flurry will have resources to speed up the delivery of platforms that help developers build better apps, reach the right users, and explore new revenue opportunities," Yahoo said in a press release.

Yahoo! Inc. and Flurry, Inc. announced today that they have reached a definitive agreement for Yahoo to acquire Flurry.

Yahoo is on a mission to re-imagine users’ daily habits, and mobile is at the center of everything we do. Our agreement to acquire Flurry is a meaningful step for the company and reinforces Yahoo’s commitment to building and supporting useful, inspiring and beautiful mobile applications and monetization solutions. By joining Yahoo, Flurry will have resources to speed up the delivery of platforms that help developers build better apps, reach the right users, and explore new revenue opportunities. Together, the companies can make mobile experiences better through products that are more personalized and more inspiring.

Analytics are critical for all mobile developers to understand and optimize their applications. Yahoo and Flurry are reinvesting in developers and continuing to build great analytics products. The combined scale of the two companies will accelerate revenue growth for thousands of developers and publishers across the mobile ecosystem.

In addition, the joined offerings of Yahoo and Flurry will enable more effective mobile advertising solutions for brands seeking to reach their audiences and gain unique insights across desktop and mobile, and users will benefit from more personalized app experiences.

Flurry has been delivering the platform and insights to help developers optimize and personalize their apps since 2008. The Flurry stats speak to their success.

170,000 developers use Flurry Analytics

Flurry sees app activity from 1.4 billion devices monthly

Flurry sees 5.5 billion app sessions per day

Flurry Analytics is in 7 apps per device on average

8,000 publishers monetize with Flurry

Flurry works with mobile developers in 150 countries

As announced in Q2 earnings last week, Yahoo mobile usage is growing rapidly.

Yahoo’s mobile display and search revenue each grew more than 100% year-over-year

More than half Yahoo’s total monthly audience visits on a mobile device, and in Q2, over 450 million mobile monthly active users came to Yahoo, a 36% increase year-over-year

Time spent on mobile has grown 79% in the last year alone

The average Yahoo user now spends 86% of their time on smartphones in apps

“Yahoo’s growth in mobile traffic comes from great people and great products,” said Scott Burke, SVP Advertising Technology. “Flurry’s success is the result of years of committed investment by a passionate team to create an indispensable platform for mobile developers. We want to harness our collective innovative spirit and bolster the mobile ecosystem by providing developers the analytics and monetization solutions to drive their success.”

“As part of Yahoo, Flurry will continue to serve the application developer community in the way we always have, only better,” said Simon Khalaf, President and CEO, Flurry. “With Yahoo, we will have access to more resources to speed up the delivery of great products that can help app developers build better apps, reach the right users, and explore new revenue opportunities. Over the last six years we have accomplished a lot on our own, but with Yahoo we are in an even better position to achieve our joint goals.”

Following the closing, the Flurry team will remain in their present locations, and Flurry’s vision, mission, and focus will stay the same. Flurry’s products will continue to operate and innovate with Yahoo’s support and investment.